Terms of service

Terms of Service

Welcome to SURPLUS RECON LLC, a premier surplus funds recovery service located in Maryland. By accessing or using our website, you agree to comply with and be bound by these Terms of Service. Please read them carefully as they govern your use of our services.
Note: You have the right to file claims directly with state unclaimed property offices at little or no cost.  

**1. Services Overview** SURPLUS RECON specializes in the identification and recovery of surplus funds for our clients. Our services are designed to assist individuals and businesses in reclaiming funds that may arise from various transactions, including real estate, tax sales, and other financial dealings. By engaging with our team, you consent to allow us to perform thorough investigations and recovery actions on your behalf.

**2. Eligibility** To use our services, you must be at least 18 years old and have the legal capacity to enter into binding agreements. By proceeding with our services, you confirm that all information provided is accurate and that you have the authority to authorize SURPLUS RECON to act on your behalf.

**3. Limitation of Liability** While SURPLUS RECON LLC commits to providing diligent and professional services, we do not guarantee success in the recovery of surplus funds. Our liability is limited to the amount of fees received from the client. We shall not be liable for any indirect, incidental, or consequential damages arising from the use or inability to use our services. Income Assignment is Ineffective for Tax Evasion: You cannot avoid tax liability simply by assigning income you've earned to another entity, such as a trust or a company. The IRS views income as remaining taxable to the individual or entity that earned it, regardless of where the funds are eventually directed or deposited.

**4. Privacy and Data Use** We respect your privacy and are committed to protecting your personal information. Our Privacy Policy outlines how we collect, use, and protect your data. By using our services, you consent to the collection and use of your information as described in our Privacy Policy.

**5. Amendments** SURPLUS RECON reserves the right to amend these Terms of Service at any time. Any changes will be posted on this page, and it is your responsibility to review these terms periodically for any updates. For any questions or concerns about our Terms of Service, feel free to contact our support team. Thank you for choosing SURPLUS RECON as your trusted partner in surplus funds recovery.

 

Service Fees and Payment Structure

Fee Amount and Calculation
SURPLUS RECON LLC charges a service fee equal to ten through twelve percent (10-12%) of the total unclaimed property amount successfully recovered on your behalf. This fee is strictly contingent upon and calculated only from funds actually recovered from the appropriate state treasury or holding entity.

You will pay no upfront fees, retainer fees, or costs to initiate, research, or file a claim through SURPLUS RECON. Our compensation is exclusively success-based—if we do not recover funds for you, you owe us nothing.

Example Fee Calculation
To illustrate our fee structure: If we successfully recover $10,000 in unclaimed property on your behalf, our service fee would be $1,000 (10% of $10,000), resulting in a net payment to you of $9,000.

Payment Authorization and Processing
By agreeing to these Terms, you authorize SURPLUS RECON to:

Receive recovered funds directly from state entities as your designated representative. If attorney representation is needed, we can make the necessary arrangements. 
Deduct our percent 10-12 (%) service fee from the recovered funds prior to disbursement. We will electronically transfer the remaining percent (88-90%) to your designated bank account.
We provide a detailed settlement statement showing gross recovery, fee deduction, and net payment.

Multiple Claims and Aggregation. If we recover multiple properties or assets for you within any twelve-month period, the ten through twelve percent 10-12 (%) fee applies to the aggregate total of all funds recovered during that period.

Potential Third-Party Costs
While our 10-12 (%) service fee covers our professional services, you may remain responsible for certain third-party costs, which could include:

State-imposed processing or handling fees (varies by jurisdiction)
Document authentication expenses (notary services, certified mail)
Bank transfer fees if you select wire transfer over standard ACH deposit
We will disclose any such third-party costs in writing and obtain your consent before incurring them on your behalf.

Changes to Fee Structure
SURPLUS RECON reserves the right to modify this fee structure, provided we give active clients at least thirty (30) days written notice of any changes. Any fee modification will not apply to claims already in process at the time of notification.

Refund Policy
Because our fee is entirely contingent upon successful recovery, our "no recovery, no fee" model means refunds are not applicable. The deduction of our fee from successfully recovered funds constitutes completed services. However, the law provides protections for all parties by making it mandatory that clients be informed of their Unconditional right to rescind a signed contract with SURPLUS RECON, giving the client the right to cancel the contract at any time within 10 days after they receive the court auditor's "statement of audit account." If the homeowner rescinds, they must repay any money SURPLUS RECON advanced, with 8% annual interest, through the court auditor.

Tax Responsibility
You acknowledge that you are solely responsible for any federal, state, or local tax liabilities arising from recovered property. SURPLUS RECON does not provide tax advice, and we strongly recommend consulting with a qualified tax professional regarding the tax implications of any recovered funds.

Your Data Protection Rights
Under the California Consumer Privacy Act (CCPA), California residents have specific rights regarding their personal information. Under the General Data Protection Regulation (GDPR), European Union residents have additional data protection rights. For detailed information about how we collect, use, and protect your personal data, please review our Privacy Policy.